The India solar panel recycling market size reached USD 4.50 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 19.14 Million by 2033, exhibiting a growth rate (CAGR) of 17.45% during 2025-2033. The market is driven by the rapid growth of solar installations, leading to increased end-of-life panels. Government policies promoting sustainable waste management, rising environmental awareness, and the economic benefits of material recovery are key factors. Investments in recycling infrastructure and advanced technologies further propel India solar panel recycling market growth.
Report Attribute
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Key Statistics
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Base Year
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2024 |
Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 4.50 Million |
Market Forecast in 2033 | USD 19.14 Million |
Market Growth Rate (2025-2033) | 17.45% |
Growing Demand for Solar Panel Recycling Due to Increasing Solar Installations
The India solar panel recycling market share is expanding, driven by the rapid expansion of solar energy installations across the country. Data published by recent industry reports shows India made a remarkable achievement in 2024 when it added 24.5 GW of solar, the single biggest annual addition. This milestone was accompanied by 3.4 GW of wind capacity added nearly entirely from the utility-scale and rooftop solar units from the PM Surya Ghar scheme. According to the report, the total renewable energy capacity had reached a whopping 209.44 GW by the end of the last fiscal year, with solar energy constituting nearly half (47 percent) of that figure and reaffirming itself as the main renewable energy source. States such as Gujarat, Karnataka, and Tamil Nadu led the way in wind energy installations, and utility-scale solar growth skyrocketed 2.8 times, with 18.5 GW added. As India strives to achieve its renewable energy targets, the deployment of solar panels is escalating, leading to a corresponding increase in end-of-life solar panels. Solar panels typically have a lifespan of 25-30 years, and many early installations are now reaching their end-of-life phase, creating a pressing need for efficient recycling solutions. This trend is further amplified by government policies promoting sustainable waste management and circular economy practices. Companies are increasingly focusing on developing advanced recycling technologies to recover valuable materials including silicon, silver, and aluminum from decommissioned panels. The growing awareness about environmental sustainability and the economic benefits of material recovery are also driving the demand for solar panel recycling services in India.
Rising Investments in Recycling Infrastructure and Technology
The market is experiencing a rise in investments aimed at building robust recycling infrastructure and adopting innovative technologies. With the increasing volume of solar waste, both public and private stakeholders are recognizing the need for scalable and efficient recycling solutions. Startups and established companies are collaborating to develop cost-effective methods for dismantling and processing solar panels, ensuring minimal environmental impact. Thus, this further creating a positive India solar panel recycling market outlook. Additionally, government initiatives and incentives are encouraging the establishment of recycling facilities across the country. The focus is on creating a closed-loop system where recycled materials are reused in the production of new solar panels, reducing dependency on raw materials and lowering manufacturing costs. This trend is expected to accelerate as India positions itself as a leader in sustainable energy practices, making solar panel recycling a critical component of the renewable energy ecosystem. India has generated a total of 100,000 tonnes of solar waste in 2023, which is projected to increase to 600,000 tonnes in 2030. This increase is due to a rapid growth of solar capacity and its expected expansion up to 292 GW by 2030. A new study highlights the urgency of implementing effective recycling systems to tap into critical minerals such as silicon and silver — key for India's mineral security and circular economy goals. While impediments such as high recycling costs and the presence of the informal sector still exist, experts emphasize that investment in cutting-edge recycling technologies and infrastructure development is essential to achieving a sustainable approach to solar waste management.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on process, type, material, and shelf life.
Process Insights:
The report has provided a detailed breakup and analysis of the market based on the process. This includes thermal, mechanical, laser, and others.
Type Insights:
A detailed breakup and analysis of the market based on the type have also been provided in the report. This includes crystalline silicon, thin film, and others.
Material Insights:
The report has provided a detailed breakup and analysis of the market based on the material. This includes metal, glass, aluminum, silicon, and others.
Shelf Life Insights:
A detailed breakup and analysis of the market based on the shelf life have also been provided in the report. This includes normal loss and early loss.
Regional Insights:
The report has also provided a comprehensive analysis of all the major regional markets, which include North India, South India, East India, and West India.
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Million USD |
Scope of the Report |
Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
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Processes Covered | Thermal, Mechanical, Laser, Others |
Types Covered | Crystalline Silicon, Thin Film, Others |
Materials Covered | Metal, Glass, Aluminum, Silicon, Others |
Shelf Lives Covered | Normal Loss, Early Loss |
Regions Covered | North India, South India, East India, West India |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
Key Benefits for Stakeholders: